How is the land price in Soc Son around the auction area '30 billion VND/m2'?

It is known that the auctioned land in Dong Lai village, Quang Tien commune, Soc Son district, Hanoi has 2 sides adjacent to residential areas and 2 sides adjacent to people's fields. This land is located about 40km from the center of Hanoi, nearly 10km from Noi Bai airport. Currently, the land is in the process of construction, completing the technical infrastructure system, many items are still messy.

According to many real estate brokers in Soc Son district, land prices around this area range from 20 - 40 million VND/m2.

The location of the Soc Son land was auctioned on November 29.

Specifically, a plot of land facing an asphalt road for business in Dong Lai village, Quang Tien commune is being offered for sale at a price of 40.21 million VND/m2. Locations in alleys about 4 meters wide are priced at 20 - 25 million VND/m2. Locations in smaller, deeper alleys are priced below 20 million VND/m2.

" I think the recently auctioned lots with prices of 32 - 50 million VND/m2 are quite close to the market price in this area. Offering prices of up to 30 billion VND/m2 is clearly intentional sabotage because even land in the center of Hanoi in the Hoan Kiem Lake area does not have that price ," said a broker.

Meanwhile, according to data on real estate trading channels, land prices in Soc Son in November were commonly from 22 - 45 million VND/m2, an increase of 43.8% over the past year.

The land has 2 sides near residential area.

Regarding the group of people bidding 30 billion VND/m2, a leader of the People's Committee of Soc Son district said that when the auction of 58 plots of land reached the 6th round of bidding, it was determined that there was a group of customers with "sabotage" behavior. Accordingly, many people had bid very high prices in the previous auction rounds, then in the 6th round, they bid 0 VND and did not continue to participate in the auction.

According to this person, even though it was broken, the auction will still continue, and these lots will be re-auctioned in the near future.

Meanwhile, on December 3, Hanoi police detained 5 people involved in the case of paying 30 billion VND/m2 for auctioned land in Soc Son. According to the testimony, before the auction, these people determined that the price of only about 30 million VND/m2 could be sold at a higher price, so to control the auction results, the subjects agreed on the price through 6 mandatory rounds.

Specifically, if in round 4, the price paid by investors is higher than 30 million VND, then in round 5, they will offer a sudden high price to win overwhelmingly. In round 6, they will agree to stop participating. The purpose is to prevent the land lot from being successfully auctioned.

With this trick, 36/58 plots of land were colluded, paid as high as nearly 100 million VND/m2 and then abandoned. Some people paid as much as 30 billion VND/m2.

Previously, in March, a land auction in Hoai Duc was canceled due to signs of violations. Accordingly, in the first round of the auction, 15/33 plots of land were bid up to 100 - 180 million VND/m2, from a starting price of only 57 - 62 million VND/m2.

Then in round 2, the customer who offered the highest price did not bid and was deliberately disqualified, creating conditions for the person who offered the lowest price in round 1 to win the auction. Considering that the customer had signs of violating the regulations on property auctions, the organizing committee sealed all auction registration documents and bid forms to transfer to the police agency for investigation and handling according to the provisions of law.

Chau Anh

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